By Karen Alley
Updating a kitchen can make your house more enjoyable for your family, but it can also rank high on the list of projects that will get you the most money at resale time.
A minor kitchen remodel ranks third among 16 projects that bring the most resale value to a home, according to the 2006 Cost Versus Value Report by Remodeling Online, the Internet edition of contractor trade magazine Remodeling. The study reports that homeowners recoup 85.2 percent of the cost of a minor kitchen remodel.
The same source shows a major kitchen remodel comes in at seventh place among the projects; it gives at least 80.4 percent of the value back.
Whether you’re a home’s new owner looking to customize the kitchen to your family, or an existing owner who has recognized the need to update, planning can be the most important part of a kitchen renovation.
Luxury materials and custom cabinetry and tilework can be beautiful, but they also add significantly to cost, NARI warns. You’ll be happiest with your kitchen if it sticks to the budget you and your contractor plan at the beginning.